Nielsen to price $1 billion notes with eight- and 10-year maturities in Monday drive-by

By Paul A. Harris

Portland, Ore., May 24 – Nielsen Holdings plans to price a $1 billion two-part offering of senior notes (expected ratings B2/BB) in a Monday drive-by, according to market sources.

The deal features $500 million of eight-year notes with three years of call protection, initial guidance in the mid-4% area.

The offering also features $500 million of 10-year notes with five years of call protection, initial guidance in the high-4% area.

J.P. Morgan Securities LLC is leading the sale.

The issuing entities will be Nielsen Finance LLC and Nielsen Finance Co., both indirect, wholly owned subsidiaries of Nielsen Holdings.

The New York-based information, data and market measurement company plans to use the proceeds plus cash on hand to pay off its dollar term B-5 loans outstanding under a credit agreement dated June 4, 2020, to prepay all of the class B-2 euro term loans outstanding under its sixth amended and restated credit agreement dated July 21, 2020 and to partially prepay its euro term B-3 loans.

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